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Tds not deposited

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(Querist)
27 April 2012 We had deducted TDS from party in Aug-2008 and it was not deposited till date. what to do in this matter.
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CA Prashant Gupta

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CA Prashant Gupta (Expert)
27 April 2012 You can deposit now with interest @ 1% p.m. or part there of. accordingly revise your TDS return.
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Mihir Doshi

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Mihir Doshi (Expert)
27 April 2012 1% or 1.5% interest p.m.
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CA Prashant Gupta

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CA Prashant Gupta (Expert)
27 April 2012 (i) at one per cent for every month or part of a month on the amount of such tax from the date on which such tax was deductible to the date on which such tax is deducted; and
(ii) at one and one-half per cent for every month or part of a month on the amount of such tax from the date on which such tax was deducted to the date on which such tax is actually paid,

Its 1.5% p.m. for the case.

Thanx mihir.
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